To see if the School District will vote to raise and appropriate $50,000 to be added to the existing Health Care Expendable Trust Fund, with up to $50,000 to be funded from the June 30, 2022 unassigned fund balance available for transfer on July 1, 2022. No additional amount to be raised from taxation. (Majority vote required.)
What it means: The School Board proposes funding the Health Insurance expendable trust with $50,000, utilizing unreserved fund balance, for the March 2022 ballot. Hampton’s share is $23,700.
Those in favor say: The Health Care Expendable Trust was established for the purpose of funding and safeguarding the school district against increasing health insurance premium costs, or unanticipated health insurance related expenditures. The Health Care Expendable Trust also allows for mitigation of large potential budget increases due to rising health insurance rates.
Important Note: Funding for the Health Care Expendable Trust comes from any potential available year-end fund balance – not raised via additional taxation.
Balance: Target:
$252,302 $300,000
Those opposed say: No one spoke against this Article at Deliberative Session.
Fiscal Impact: A Hampton home valued at $400,000 would bear an increased tax cost of $ 2.84 in 2022 if SAU 21 Article 5 passes. Take your property valuation divided by 1000 and multiplied by .01 to get your cost. This decision is for the current year only.
Note: These costs for taxpayers are calculated at 47.4% of the appropriations, which is Hampton’s share.